NEW YORK, March 23, 2016 -- McGraw-Hill Global Education Holdings, LLC, a learning science company, announced today that it will be using free cash flow generated from operations to prepay $72.5 million of its term loans due 2019 on April 1, 2016.
With this payment, the Company will have prepaid approximately $189 million of its term loans (in addition to scheduled amortization) since 2013.
McGraw-Hill Global Education is scheduled to file its annual results with the SEC on Form 10-K, and will post an investor presentation to its website, investors.mheducation.com, on March 30. The Company will not host an earnings call this quarter as its parent company remains in a quiet period related to its registration with the SEC for an initial public offering.